Indo-Pacific Economic Framework ministers gather in San Francisco for talks

Ministers from 14 nations including Japan and the United States are gathering in San Francisco for their latest round of talks on a US-led economic partnership for the Indo-Pacific.

The member nations of the Indo-Pacific Economic Framework for Prosperity, or IPEF, have been negotiating in four areas.

These include strengthening supply chains for semiconductors and other critical goods, expanding investment in decarbonization efforts, and facilitating digital trade.

Washington proposed the economic framework with an eye to counter China amid the country's increasing influence in the region.

In May, the ministers reached a "substantial conclusion" in their negotiations on supply chains.

During their two-day talks from Monday, the ministers are planning to work toward agreements in the three other areas.

Sources say an agreement on some aspects of digital trade is likely to be postponed.

But in the lead-up to a summit meeting to be held on Thursday, arrangements are being made to issue a joint statement that would call for closer involvement among the member nations for the prosperity of the region.

As the first US-China summit in a year is to take place on Wednesday, all eyes will be on whether the IPEF meetings will produce concrete results and messages.